CytomX Therapeutics (NASDAQ:CTMX) Reaches New 12-Month High – Still a Buy?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $4.66 and last traded at $4.4450, with a volume of 1033922 shares changing hands. The stock had previously closed at $4.26.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CTMX shares. Cantor Fitzgerald started coverage on shares of CytomX Therapeutics in a report on Monday, September 22nd. They set an “overweight” rating and a $6.00 target price for the company. HC Wainwright raised their price target on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of CytomX Therapeutics in a research report on Friday, November 7th. Barclays increased their target price on shares of CytomX Therapeutics from $3.50 to $6.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings upgraded CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, CytomX Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

CytomX Therapeutics Price Performance

The business’s 50 day moving average price is $3.99 and its 200 day moving average price is $3.00. The firm has a market cap of $720.08 million, a PE ratio of 10.63 and a beta of 2.42.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%.The firm had revenue of $5.96 million during the quarter, compared to analyst estimates of $11.50 million. As a group, analysts predict that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of CytomX Therapeutics by 5,648.0% in the third quarter. JPMorgan Chase & Co. now owns 16,152 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 15,871 shares during the last quarter. Financial Engines Advisors L.L.C. purchased a new stake in CytomX Therapeutics during the 3rd quarter valued at about $4,407,000. Jacobs Levy Equity Management Inc. acquired a new stake in CytomX Therapeutics in the 3rd quarter valued at about $162,000. Velan Capital Investment Management LP raised its holdings in CytomX Therapeutics by 6.7% in the 3rd quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock valued at $255,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in CytomX Therapeutics in the 3rd quarter worth approximately $391,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.